Question What would happen if GPU demand was fully met right now?

[moonbogg]

I'm speculating about how many GPUs it would take to completely satisfy demand right now and what impact that would have on certain things. If every gamer and miner who wanted GPUs at msrp could buy as many as they wanted right now, how many GPUs do you think that would be? What would happen to energy consumption?
I imagine there are plenty of miners who would buy hundreds or thousands if they could. I think it would take 50 million GPUs and it would completely destroy the energy grid in certain countries. The e-waste in the coming months and years would be a towering mountain of old GPUs.

 

[GodisanAtheist]

Couple of "News" stories here that might be relevant:

Ethereum to Transition to Proof of Stake in Coming Months, Reducing Energy Consumption by 99.95%

The deployment of PoS (Proof of Stake) in Ethereum - called The Merge - has been a target for the development teams for a while now - and yet it still hasn't see the light of day. However, we have been slowly clambering towards it, and the Ethereum team has issued a blog post that places that...

www.techpowerup.com

Cryptocurrency Market Bleeds Trillions in Less Than 24 Hours; Did the Bubble Pop?

The cryptocurrency market is experiencing another major shakedown in pricing, with the overall crypto market valuation dropping by more than a trillion dollars in less than 24 hours. As of time of writing, leading cryptocurrency by market cap Bitcoin has lost more than 30% in value, dropping to...

www.techpowerup.com

Possibly the beginning of the end, but the last year has been an absolute headscratcher in terms of what people and markets are doing relative to reporting, lotta counter-intuitive stuff.

Maybe someone here with a firmer grasp of crypto markets can shed some light?

Edit: Love it when someone goes on a downvote rampage but never bothers to actually explain why they disagree with the post in question...

 

[GodisanAtheist]

What would happen if GPU demand were fully met"

I'd have a 2080 Ti in my PC for $400 bucks is hwut...

 

[rommelrommel]

At a certain point the etherium difficulty would be so high as to make mining unprofitable. There would be a cap, but the math of what it might be is beyond me.

 

[moonbogg]

At a certain point the etherium difficulty would be so high as to make mining unprofitable. There would be a cap, but the math of what it might be is beyond me.

The cap would come, but not before everyone panic bought as many GPUs as they could possibly afford. I'm talking about magical, unrestricted supply suddenly being available. I actually think it would take 50 million GPUs or more. Miners would, overnight, fill entire warehouses with GPUs. Pallets and pallets of them, tens of millions of dollars worth at a time. It would be completely insane.
The shortages would quickly transfer to other components needed to support mining operations. You literally can't satisfy this demand without invoking magic. There is no sufficient supply increase possible when people build mining rigs to make a living instead of having to work. You can't satisfy it.

 

[Kenmitch]

Bigfoot would get a leading role in a new Star Wars film.

 

[GodisanAtheist]

Bigfoot would get a leading role in a new Star Wars film.

-Chewie, is that you?

 

[maddogmcgee]

At current profit and RRP I would buy an infinite amount and place an order for more. That's a 580, 3060ti and a 6700x, 2 of which I had before I even started mining and none of them have bios mods. Consumers buying GPU's will never really decrease profit, that will be due to changes in ETH, companies buying gpu's by the thousands or tens of thousands and the ASICs .

 

[nosurprises]

There is no limit. The only thing that would stop the demand would be drop in crypto prices.

Miners will buy unlimited amount of GPU at the current MSRP and crypto price.

 

[aigomorla]

There would be no sand left in the ocean as it would all be used to make gpus.

 

[moonbogg]

If you gave a miner a magic button that when pressed would turn the entire planet into an eth ASIC, they'd blink once and press it.

 

[MrTeal]

50M 3080s would be ~5M GH/s of Eth hashing power, which would increase the network hashrate by a factor of 10X.

I'm not sure those all could get snapped up immediately or what that would look like. If you're looking at say $800 on average for a 3080, you're also looking at US$40B in GPU sales. That is a LOT of capital required just for GPUs, and I'm guessing even the largest mining operations together don't have that kind of liquidity. Would infinite GPU availability lead to a market crash as miners look to cash out crypto in order to expand their operations?

 

[obidamnkenobi]

The shortages would quickly transfer to other components needed to support mining operations.

The great ziptie shortage of 2022!!

But someone has to be buying the crypto to support the prices? Can we hope that at some point people will stop dumping money into these schemes? Run out of patience? Though I know people have been saying that for ten years now..

 

[sdifox]

Miners will meltdown the electric grid, kicking us back to buggies age.

 

[Ajay]

What would happen if GPU demand were fully met"

I'd have a 2080 Ti in my PC for $400 bucks is hwut...

Uh, yeah. I was thinking of buying a 2080 Ti when the prices crashed down to $500 and change. But, the 3070 was going to be just as fast and cheaper, then I waited for custom cooler solutions from the top vendors. LOLOLOL! I feel like a Dummkopf!

 

[GodisanAtheist]

Uh, yeah. I was thinking of buying a 2080 Ti when the prices crashed down to $500 and change. But, the 3070 was going to be just as fast and cheaper, then I waited for custom cooler solutions from the top vendors. LOLOLOL! I feel like a Dummkopf!

"I'm not dumb enough to get a 2080TI for $500 right before the 3070 launches for $500"
- You, me, and I'm sure a whole lot of other people...

Sometimes chasing a deal can get really expensive...

 

[DeathReborn]

I don't know, I keep waking up before it happens. I'm just happy I got a 3080, will tide me over until MCM GPU's.

 

[Ajay]

Sometimes chasing a deal can get really expensive...

YES! I typically upgrade every other generation. I guess I won't die, so I'll be waiting with all the other guys who rather pay ~ MSRP + 10% or less. *twiddles fingers* *stares mournfully at wall*

 

[GodisanAtheist]

YES! I typically upgrade every other generation. I guess I won't die, so I'll be waiting with all the other guys who rather pay ~ MSRP + 10% or less. *twiddles fingers* *stares mournfully at wall*

-The other day I was contemplating driving 400 miles to the nearest Microcenter to pick up a CPU/Mobo combo deal that would save me ~$100 bucks over buying online until I realized how stupid that was...

 

[moonbogg]

-The other day I was contemplating driving 400 miles to the nearest Microcenter to pick up a CPU/Mobo combo deal that would save me ~$100 bucks over buying online until I realized how stupid that was...

Yes, but you would have paid less for the CPU and you could have shared only that information on the forums, making you appear much smarter. It would have been a good forum move.

 

[alcoholbob]

The great ziptie shortage of 2022!!

But someone has to be buying the crypto to support the prices? Can we hope that at some point people will stop dumping money into these schemes? Run out of patience? Though I know people have been saying that for ten years now..

Once credit starts tightening. Right now with a 4.2% inflation print in April (well over the Fed's 2% target), pressure is starting the mount on the Fed to raise rates. Of course they are adamant about getting unemployment down to 2019 levels before even thinking about thinking about raising rates.

So basically, wait till the Fed blinks, then sell all your GPUs on Ebay and dump crypto as fast as you can, because its gonna be the 2018 Crypto Crash all over again. Until then, the money from $1.45 trillion a year in money printing from the Fed + Fiscal stimulus around the world needs to find a home, and asset prices will continue to rise.

 

[moonbogg]

Couple of "News" stories here that might be relevant:

Ethereum to Transition to Proof of Stake in Coming Months, Reducing Energy Consumption by 99.95%

The deployment of PoS (Proof of Stake) in Ethereum - called The Merge - has been a target for the development teams for a while now - and yet it still hasn't see the light of day. However, we have been slowly clambering towards it, and the Ethereum team has issued a blog post that places that...

www.techpowerup.com

Cryptocurrency Market Bleeds Trillions in Less Than 24 Hours; Did the Bubble Pop?

The cryptocurrency market is experiencing another major shakedown in pricing, with the overall crypto market valuation dropping by more than a trillion dollars in less than 24 hours. As of time of writing, leading cryptocurrency by market cap Bitcoin has lost more than 30% in value, dropping to...

www.techpowerup.com

Possibly the beginning of the end, but the last year has been an absolute headscratcher in terms of what people and markets are doing relative to reporting, lotta counter-intuitive stuff.

Maybe someone here with a firmer grasp of crypto markets can shed some light?

Edit: Love it when someone goes on a downvote rampage but never bothers to actually explain why they disagree with the post in question...

The announcement from China and subsequent value drop is very welcome from my perspective, but I won't hold my breath for demand from miners to reduce anytime soon. If anything I'd expect demand from miners to increase, because why the hell not? I'm nothing but pissed off about the whole thing at this point. Also, reducing the mining performance of the new GPUs by 50% won't do anything to reduce demand from miners. That puts a 3080Ti around 5700XT mining performance and 5700XTs are still going for around $1500-$2000 new on Ebay, so this is hopeless. In addition, nothing is being done to nerf the mining performance for other coins besides eth, so the 3080Ti will have more mining demand than a 5700XT. I expect 3080Ti's to get shipped straight to mining warehouses and the rest will end up in scalpers hands and sell like hotcakes at $3000.
At this point gamers aren't even the intended customer anymore. Gamers are nothing but a financial parachute for miners when it's time to offload their cards to recoup their investment. Gamers are getting crapped on all over the place from absolutely everyone. It's pathetic.

 

[B-Riz]

Couple of "News" stories here that might be relevant:

Ethereum to Transition to Proof of Stake in Coming Months, Reducing Energy Consumption by 99.95%

The deployment of PoS (Proof of Stake) in Ethereum - called The Merge - has been a target for the development teams for a while now - and yet it still hasn't see the light of day. However, we have been slowly clambering towards it, and the Ethereum team has issued a blog post that places that...

www.techpowerup.com

Cryptocurrency Market Bleeds Trillions in Less Than 24 Hours; Did the Bubble Pop?

The cryptocurrency market is experiencing another major shakedown in pricing, with the overall crypto market valuation dropping by more than a trillion dollars in less than 24 hours. As of time of writing, leading cryptocurrency by market cap Bitcoin has lost more than 30% in value, dropping to...

www.techpowerup.com

Possibly the beginning of the end, but the last year has been an absolute headscratcher in terms of what people and markets are doing relative to reporting, lotta counter-intuitive stuff.

Maybe someone here with a firmer grasp of crypto markets can shed some light?

Edit: Love it when someone goes on a downvote rampage but never bothers to actually explain why they disagree with the post in question...

Last year, people were stuck inside, no vaccine, not sure what to do, dump cash into digital stuffs / buy computers and electronics!

So, it makes sense really, modern society has the tool for instant gratification, the internet.

A lot of people did not lose jobs or income from the pandemic, boom, stupid amounts of money in a lot of different areas, as it was not spent on travel and going out to eat and shop.

 

[BFG10K]

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